Question

          X

   $6,000.00          
   $18,000.00   
   $21,500.00   
   $24,000.00   
   $30,000.00   
   $37,500.00   
   $41,000.00   
   $58,500.00   
   $64,500.00   
   $66,000.00   
   $70,000.00   
   $76,500.00   
   $82,500.00

P(X)  

0.01  
0.05  
0.08  
0.1  
0.2  
0.3  
0.1  
0.08  
0.05  
0.01  
0.008  
0.007  
0.005

A) what is the probability to get $37,500.00?

I need the excel formulas to get this solution

B) What is the probability to get $30,000 or less?

C) what is the probability to get less than 30,000?

D) Whats the prob to get more than $60,000 or less than $21,500?

Answer 1

A) what is the probability to get $37,500.00?

P( X > 37500) = 0.3

From above table at x= 37500

B) What is the probability to get $30,000 or less?

P( X < = 30000) = P( X = 6,000.00) + P( X = 18,000.00) + P( X = 21,500.00) + P( X = 24,000.00) +  P( X = 30,000.00)

= 0.01 + 0.05 + 0.08 + 0.1 +0.2

= 0.44

C) what is the probability to get less than 30,000?

P( X < 30,000) = P( X < = 30000) - P( X = 30000)

= 0.44 - 0.2 = 0.24

D) What's the prob to get more than $60,000 or less than $21,500?

P( 60000 > X > 21,500) = P( X = 64500) + P( X = 66000) + P( X = 70000) + P( X = 18000) + P( X =6000)

= 0.05 + 0.01 +0.008 + 0.05 + 0.01 = 0.128